Biogen Inc Has More Gas To Increase After Today’s Bullish Options Activity

November 9, 2016November 9, 2016Ellis Scott

In today’s session Biogen Inc (BIIB) registered an unusually high (489) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious BIIB increase. With 489 contracts traded and 8214 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: BIIB161118C00295000 closed last at: $9 or 130.8% up. About 1.35 million shares traded hands. Biogen Inc (NASDAQ:BIIB) has risen 8.26% since April 7, 2016 and is uptrending. It has outperformed by 3.48% the S&P500.

Biogen Inc (NASDAQ:BIIB) Ratings Coverage

Out of 18 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 13 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 72% are positive. $450 is the highest target while $268 is the lowest. The $356.20 average target is 13.77% above today’s ($313.09) stock price. Biogen Idec Inc. has been the topic of 34 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was downgraded by BMO Capital Markets to “Market Perform” on Friday, July 24. Leerink Swann initiated Biogen Inc (NASDAQ:BIIB) on Friday, February 5 with “Market Perform” rating. The firm has “Buy” rating by H.C. Wainwright given on Thursday, October 22. The stock has “Outperform” rating given by Wells Fargo on Friday, December 4. Jefferies initiated Biogen Inc (NASDAQ:BIIB) rating on Wednesday, September 9. Jefferies has “Buy” rating and $348 price target. The stock of Biogen Inc (NASDAQ:BIIB) has “Outperform” rating given on Wednesday, October 7 by RBC Capital Markets. Raymond James maintained the shares of BIIB in a report on Tuesday, August 2 with “Strong Buy” rating. The stock of Biogen Inc (NASDAQ:BIIB) has “Overweight” rating given on Monday, November 7 by Piper Jaffray. The rating was initiated by Raymond James on Tuesday, September 1 with “Strong-Buy”. The company was maintained on Monday, July 27 by RBC Capital Markets.

According to Zacks Investment Research, “Biogen is a leading biopharmaceutical company engaged in the research, development and marketing of targeted therapies for the treatment of cancer, autoimmune and inflammatory diseases. The company owns industry leading brands for the treatment of multiple sclerosis, next-generation treatments for hemophilia, and a deep clinical pipeline ranging from Alzheimer’s disease, lupus nephritis to neuropathic pain.”

Insitutional Activity: The institutional sentiment increased to 1.03 in 2016 Q2. Its up 0.04, from 0.99 in 2016Q1. The ratio is positive, as 77 funds sold all Biogen Inc shares owned while 300 reduced positions. 83 funds bought stakes while 307 increased positions. They now own 183.84 million shares or 8.46% less from 200.84 million shares in 2016Q1.
Bartlett & has 51 shares for 0% of their US portfolio. Moreover, Aperio Group Lc has 0.17% invested in Biogen Inc (NASDAQ:BIIB) for 89,363 shares. Intact Investment Mgmt Incorporated accumulated 0.04% or 3,700 shares. The New Hampshire-based Granite Invest Inc has invested 0.05% in Biogen Inc (NASDAQ:BIIB). Northern Trust accumulated 2.97M shares or 0.23% of the stock. Stratos Wealth Prns Ltd reported 7,721 shares or 0.14% of all its holdings. Moreover, Letko Brosseau & Associates Incorporated has 0.29% invested in Biogen Inc (NASDAQ:BIIB) for 127,665 shares. First Allied Advisory Ser Incorporated reported 9,235 shares or 0.12% of all its holdings. The Florida-based Raymond James Trust Na has invested 0.07% in Biogen Inc (NASDAQ:BIIB). Eagle Glob Advsr Limited Liability has 0.02% invested in the company for 2,600 shares. Equitec Proprietary Markets Lc has invested 0% of its portfolio in Biogen Inc (NASDAQ:BIIB). Mackenzie Finance Corp holds 0.01% or 8,636 shares in its portfolio. Terril Brothers accumulated 7.01% or 65,573 shares. Ent Financial Serv last reported 0.01% of its portfolio in the stock. Hudson Canyon Counselors Ltd Liability Corp last reported 1.53% of its portfolio in the stock.

Insider Transactions: Since May 25, 2016, the stock had 0 insider buys, and 7 selling transactions for $10.31 million net activity. On Saturday, October 1 Karaboutis Adriana sold $118,940 worth of the stock or 380 shares. Another trade for 157 shares valued at $43,960 was made by SCANGOS GEORGE A on Thursday, July 21. The insider DORSA CAROLINE sold $8.66 million.

Biogen Inc., formerly Biogen Idec Inc., is a biopharmaceutical company. The company has a market cap of $68.12 billion. The Firm operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. It has a 17.7 P/E ratio. The Firm markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis , ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

BIIB Company Profile

Biogen Inc., formerly Biogen Idec Inc., incorporated on April 1, 1997, is a biopharmaceutical company. The Firm operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Firm markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis. The Firm also has a collaboration agreement with Genentech, Inc. (Genentech), a member of the Roche Group, with respect to RITUXAN for the treatment of non-Hodgkin’s lymphoma, chronic lymphocytic leukemia (CLL) and other conditions, GAZYVA indicated for the treatment of CLL and follicular lymphoma, and other potential anti-CD20 therapies.

More notable recent Biogen Inc (NASDAQ:BIIB) news were published by: Fool.com which released: “Why Biogen Inc. Stock Lost 10.5% of Its Value In October” on November 09, 2016, also Seekingalpha.com with their article: “A Risk Evaluation Of Biogen’s Multiple Sclerosis Segment” published on November 08, 2016, Fool.com published: “Better Buy: Biogen Inc. vs. Gilead Sciences, Inc.” on October 18, 2016. More interesting news about Biogen Inc (NASDAQ:BIIB) were released by: Fool.com and their article: “Biogen Inc. Working With What It’s Got as It Looks to Diversify” published on October 27, 2016 as well as Schaeffersresearch.com‘s news article titled: “Analyst Upgrades: Alphabet Inc, Biogen Inc, and Intel Corporation” with publication date: November 07, 2016.